The global automotive industry experienced a 41% decline in the number of internet of things-related patent applications in Q3 2024 compared with the previous quarter. The total number of internet of things-related grants dropped by 3% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Automotive: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of internet of things-related patent applications in the automotive industry was 1,298 in Q3 2024, versus 2,205 in the prior quarter.
The top five companies accounted for 16% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most internet of things patents within the automotive industry in Q3 2024. The company filed 49 internet of things-related patents in the quarter, compared with 52 in the previous quarter. It was followed by Qualcomm with 46 internet of things patent filings, Huawei Investment (45 filings), and Samsung Electronics (43 filings) in Q3 2024.
Patenting activity was driven by the US with a 37% share of total patent filings
The largest share of internet of things related patent filings in the automotive industry in Q3 2024 was in the US with 37%, followed by China (23%) and Japan (3%). The share represented by the US was 10% higher than the 27% share it accounted for in Q2 2024.
For further understanding of GlobalData's Automotive: Patents Trends Q3 2024, buy the databook here.
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